Pamplona Capital Management (Pamplona) is to acquire EET management have agreed to acquire the company from funds managed by FSN Capital. The sale is expected to close in the first quarter of 2022.
EET is a leading value-added distributor of specialist technology components and solutions with a growing presence across Europe, selling branded and private label products to over 30,000 customers. The company has established longstanding vendor partnerships and leverages its deep technical expertise to deliver a differentiated product and service offering to its customers.
EET is led by CEO Søren Drewsen, supported by a deep and highly experienced management team. The company is headquartered in Denmark, employs over 600 people, and generates revenues in excess of 500 million euros.
The company has grown from being a leading distributor in its core Nordic market to becoming a key partner to customers and vendors throughout Europe. EET has a proven acquisition track record and is committed to growing its capabilities both organically and through pan-European M&A in order to deliver a comprehensive product portfolio to its customers.
Martin Schwab, Co-Managing Partner at Pamplona, says: “We are delighted to be partnering with Søren and his team and are excited to take part in the next chapter of EET’s growth. The company has developed into a leading technology components and solutions distribution player across Europe and represents a highly attractive platform with numerous organic and inorganic growth levers. Pamplona has an extensive track record of supporting management teams in delivering on ambitious strategies and we will look to leverage our deep experience in order to help Søren and his team add to their impressive platform.”
João Saraiva e Silva, Partner at Pamplona, says: “EET is a pan-European leader in technology distribution, a sector that increasingly benefits from supportive digitalisation trends. We are impressed with the vision, creativity and proven execution capabilities of Søren and his team and are delighted to partner with the company as it accelerates its growth trajectory.”
EET CEO Søren Drewsen says: “EET has been on an amazing journey in the last few years, delivering ever-higher value to both customers and vendors, which has resulted in solid growth rates with increased profitability. We are excited to continue this journey with a new ambitious international partner in Pamplona. The team at Pamplona have shown a passionate interest in EET and we have got to know them as being diligent, decisive and growth-oriented. We look forward to partnering with them and truly believe EET has a bright future with Pamplona’s support.”
Pamplona’s investment will be made from its sixth private equity fund, Pamplona Equity Partners LP.
Pamplona was advised on this transaction by GCA Altium and Carnegie (M&A financial), Skadden and Bruun & Hjejle (M&A legal), Houlihan Lokey and Kirkland & Ellis (financing).